Oil prices dropped to a 12-day low monday:ay low Monday, with Brent and West Texas Intermediate (WTI) futures falling below USD 100 per barrel during trading to reach their lowest levels since September 9.
According to Qatar News Agency, Brent crude futures for November delivery fell USD 3.48, or 3.35 percent, to USD 100.39 a barrel. US WTI crude futures for October delivery dropped USD 4.64, or 4.63 percent, to USD 95.66 a barrel, while the November contract settled at USD 92.34.
The decline in oil prices comes amid market concerns about potential reductions in demand, as global economic growth forecasts continue to face downward revisions. The fluctuations in the oil market are being closely monitored by analysts, who are assessing the possible implications for global supply chains and energy markets.
